Hobart's vacancy rate at record lows: SQM

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Nov 15, 2017

Hobart's vacancy rate at record lows: SQM

Hobart's vacancy rate fell to a record low of 0.3 per cent in October, according to new data from SQM Research.

Image: Rob Taylor via Flickr Creative Commons

Of all Australia's capital cities, Hobart has the lowest rental vacancy rate, with only 75 properties available to rent in October.

Australia's residential vacancy rate was 2.1% in October 2017, a slight decline from the previous month, according to the latest data from SQM Research.

"The vacancy numbers highlighted tighter rental markets in many capital cities," wrote SQM Research.

Hobart's vacancy rate fell to a record low of 0.3 per cent, the lowest level since SQM began recording data in 2005. Only 75 properties were available for rent in October.

Perth's vacancy rate is the highest of any city, though it declined to 4.1 per cent in October from 4.5 per cent.

Sydney recorded a vacancy rate of 1.9 per cent, down from 2.1 per cent the previous month.

In Melbourne, the vacancy rate fell to 1.8 per cent.

Source: SQM Research.

"We’ve seen big falls in Perth and Adelaide and even Brisbane appears to be recording a slight trend downwards right now."

"We expect vacancies to rise in November and December due to seasonality, such as students finishing up their semester and heading home, which may take some pressure off rents," SQM predicted.